Kenneth Rijock

Monday, June 3, 2013

ARE FUGITIVE LIBERTY RESERVE OFFICERS BACK IN BUSINESS ?

A disturbing rumour is making the rounds this week, in the Republic of Panama, where many of the Russian-American officers of the dismantled Costa Rica digital currency firm, Liberty Reserve, have residences: At least one principal of the two not in custody, together with lesser staff members, and associates, immediately reopened their criminal enterprise, and are back in business with a vengeance. The names employed by the new entity are not known to me, but rest assured, I am seeking that information.

When law enforcement agencies finally decide to target the users of illicit financial enterprises, instead of the operators, they can then potentially shut down the operation from the demand end, but merely cutting off the head, by arresting the principal officers, is rarely, if ever, successful, even in the short term. The survivors merely migrate to the latest version. Whilst I am impressed that a $6bn criminal operation was terminated, there will be successors, smarter and more devious, to take its place, forthwith, if not sooner.